3 Viable Options to Fund Your Small Business

One of the most difficult aspects of launching a start-up and running a small business is finding enough capital to sustain things through the lean years. One of the many reasons why small businesses fail in the first few years is that they can’t find enough money to keep things afloat. After all, a business is only an idea if you don’t have the money or resources to get it off the ground, right?

Whether you are about to open shop or working your way through the first few years of operations, it’s important to reflect on the following questions related to funding your small business:

• How much money do I need to make my business idea a reality?

• How much money am I willing to invest? How long will this last?

• Do I have friends,

15 Tips for Managing Cash Flow Like a Pro

Cash is king in business. It provides you with the flexibility you need to operate your business effectively. Many small businesses fail or grow more slowly than anticipated because they fail to properly manage their cash flow. Cash is the life blood of your business, and managing it the right way will help you succeed, even during the lean times.

Why is cash flow so important? Entrepreneur.com sheds some light on the importance of effectively managing cash flow and how it works:

“The lag between the time you have to pay your suppliers and employees and the time you collect from your customers is the problem, and the solution is cash flow management. At its simplest, cash flow management means delaying outlays of cash as long as possible while encouraging anyone who owes you money to pay it as rapidly as possible.”

15 Tips for Managing Cash Flow
Increasing the speed at which you get paid and extending the time between incoming and outgoing cash are two techniques that can help small businesses build a cash buffer that is vital for short term and long term growth.